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Comment by JohnJamesRambo | Hacker News Reader

You should look into Ethereum 2.0. And probably buy some.

Never miss a chance to peddle your coin

It’s such strange advice to buy a currency early. Just the utterance of such a thing shows how these aren’t good currencies.

Imaging how stupid someone would be to generally give advice to “buy some Euro” or “buy some Dollar.”

Buy some dollar would have been awesome advice after Bretton Woods and pretty much up until now. Now we will have a new world currency. The dollar had a good run but it has pumped as far as it can go now on money printing.

https://fred.stlouisfed.org/series/M1SL

https://marketcap.com.au/wp-content/uploads/2018/11/WRCurren...

We are in the buildup period for the next currency. What is it we can't be sure, but a world cryptocurrency seems likely.

It's a very utopian idea though, isn't it? What government is going to settle for a currency that's out of their control, that doesn't allow them to collect taxes efficiently?

I'm not really for or against crypto in general. But I do like my bins being collected, and my roads without holes in them - it kind of requires some kind of central governing for this to happen.

It'll take another 10-20 years or so, until we likely have sound evidence, whether the conclusion drawn from modern monetary theory - that forever growing national debt is not in itself a problem - is reasonable or not. Either we'll see that there's no problematic level of inflation or we'll see that there is too much inflation causing instability.

If somehow the evidence suggests that growing national debt is indeed a fundamental problem, then maybe some governments will be forced (by voters' will or by peer pressure) to ...

> ... settle for a currency that's out of their control ...

... because it'd remove the ever present temptation for politicians to promise short term gifts to voters that are paid for by devaluation of the currency and by shifting payback into the future.

In Ethereum, the currency’s role is of secondary importance. Instead, it’s intended to primarily be in the service of the “world computer”. You’d acquire Ether for its value as an asset rather than a currency.*

But even so, would you say it’s stupid to advise a Turk to buy dollars? These past few years, many of them have been exchanging lira for dollars as protection against inflation.

*In practice, the network is struggling to find a true application, and Ether’s utility as a currency is low.

I meant generally advise, like to tell a whole forum of strangers to do it.

And even advising a Turk to buy dollars would depend heavily on the Turk’s particular situation and would likely mean not buying dollars as an investment but as a hedge against other things.

Ethereum isn't a currency

We detached this subthread from https://news.ycombinator.com/item?id=27576526.

Reply on news.ycombinator.com